Regulatory Alerts2024-11-25
Regulation on Directors and Senior Managers of Banks
The Board of the Central Bank of the Republic of Kosovo issued this regulation to establish comprehensive "Fit and Proper" criteria, independence standards, and shareholding limits for bank directors and senior managers. It mandates prior CBK approval for all appointments and reappointments while requiring licensed banks to continuously monitor these individuals' integrity, competence, leadership, and financial sustainability. The framework supersedes the 2019 rules, introduces a simplified sixty-day submission procedure for approvals, and subjects non-compliance to administrative penalties.
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